Oil prices inch up from near 5-mth lows as Middle East risks persist
Oil prices rose in Asian trade on Tuesday as focus remained on a potential escalation in the Israel-Hamas conflict, although disappointing OPEC+ cuts and strength in the dollar kept crude trading near five-month lows. Fears of a potential escalation in the Israel-Hamas conflict came back into play after the U.S. held Iran responsible…
US dollar gains but set for worst monthly loss in a year, euro falls
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The dollar gained on Thursday as investors took profits on bets the currency would weaken further and shrugged off data showing signs the U.S. economy is slowing. Thursday’s economic data suggested that the Federal Reserve is likely done raising interest rates and may start easing by the…
Dollar rises from 3-1/2-month low; rate cut bets intact
By Gertrude Chavez-Dreyfuss and Herbert Lash NEW YORK (Reuters) – The dollar climbed from more than three-month lows on Wednesday after data showing the U.S. economy grew faster in the third quarter than initially reported helped investors consolidate positions following four days of losses. The greenback rose against the euro and an index…
Euro profits from better euro zone data; U.S. market shut
By Amanda Cooper LONDON (Reuters) -The euro edged up on Thursday after data suggested the downturn in the euro zone economy may be starting to ease, although holidays in the U.S. and Japan kept trading activity muted. With markets shut in Japan and the U.S. for Thanksgiving holidays, currencies traded with some volatility,…
Dollar poised to halt slide after Fed minutes
By Chuck Mikolajczak NEW YORK (Reuters) -The dollar index was on pace to stem the tide of its recent downturn on Tuesday after minutes from the Federal Reserve’s most recent policy meeting showed the U.S. central bank was likely to maintain a restrictive stance on interest rates for some time. Fed officials said…
Dollar falls to 2-1/2 month low on Fed expectations, yen strengthens
By Chuck Mikolajczak NEW YORK (Reuters) -The dollar index fell to its lowest in more than two months on Monday, continuing a drop from the prior week, as investors largely believe the U.S. Federal Reserve has completed its interest rate hike cycle and look towards when the central bank may start to cut…
Dollar posts steep weekly fall, trades below 150 yen
By Herbert Lash and Iain Withers NEW YORK/LONDON (Reuters) – The dollar posted its second-steepest weekly decline versus other major currencies this year on Friday, while the yen strengthened sharply, and the dollar traded below 150 yen, as concerns grow about the weakening global economic outlook. Cooler-than-expected U.S. inflation data on Tuesday and…
Dollar steady as U.S. jobless claims boost Fed rate cut bets
By Herbert Lash NEW YORK (Reuters) -The dollar meandered on Thursday after U.S. jobless claims rose more than expected last week, indicating a cooling labor market that could prompt the Federal Reserve to cut interest rates in early 2024 as it tries to engineer a soft landing. The dollar index, a measure of…
Dollar gains on retail sales data, Fed rate cut date unclear
By Herbert Lash NEW YORK (Reuters) -The dollar gained on Wednesday after still strong U.S. retail sales fell less than expected in October, a reminder for the market that a definitive date for the Federal Reserve to cut interest rates is still unknown. The dollar bounced off its biggest drop in a year…
Dollar sinks after data shows US inflation cooling
By Herbert Lash NEW YORK (Reuters) -The dollar fell more than 1% against major currencies on Tuesday after U.S. consumer price data showed the pace of inflation moderating further in October, increasing the odds that the Federal Reserve is done hiking interest rates. U.S. consumer prices were unchanged last month amid lower gasoline…
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